XML 85 R29.htm IDEA: XBRL DOCUMENT v3.20.1
OPERATING PROPERTIES, REAL ESTATE HELD FOR SALE AND OTHER REAL ESTATE OWNED (Tables)
 12 Months Ended
Dec. 31, 2019
Real Estate [Abstract]  
Schedule Of Real Estate Owned Assets Acquired Through Foreclosure By State
A summary of operating properties and REO assets owned as of December 31, 2019 and 2018, respectively, by method of acquisition, is as follows (in thousands):
 
 
Acquired Through Foreclosure and/or Guarantor Settlement
 
Acquired Through Purchase and Costs Incurred
 
Accumulated Depreciation
 
Total
 
 
2019
2018
 
2019
2018

2019
2018

2019
2018
Real Estate Held for Sale
 
$
26,065

$
7,418

 
$
61

$
—

 
$
(621
)
$
—

 
$
25,505

$
7,418

Operating Properties
 
—

—

 
47,440

34,550

 
(2,241
)
(684
)
 
45,199

33,866

Other Real Estate Owned
 
33,341

33,727

 
—

—

 
—

—

 
33,341

33,727

  Total
 
$
59,406

$
41,145

 
$
47,501

$
34,550


$
(2,862
)
$
(684
)
 
$
104,045

$
75,011
Schedule Of Real Estate Owned Assets Acquired Through Foreclosure
A summary of operating properties and REO assets owned as of December 31, 2019 and 2018, respectively, by state, is as follows (dollars in thousands):
 
 
December 31, 2019
 
 
Operating Properties
 
Held For Sale
 
Other Real Estate Owned
 
Total
State
 
# of Projects
 
Aggregate Net Carrying  Value
 
# of Projects
 
Aggregate Net Carrying Value
 
# of Projects
 
Aggregate Net Carrying  Value
 
# of Projects
 
Aggregate Net Carrying  Value
California
 
1

 
$
45,199

 
1

 
$
137

 
1

 
$
252

 
3

 
$
45,588

Texas
 
—

 
—

 
1

 
2,760

 
—

 
—

 
1

 
2,760

Arizona
 
—

 
—

 
3

 
2,971

 
—

 
—

 
3

 
2,971

Minnesota
 
—

 
—

 
2

 
1,532

 
—

 
—

 
2

 
1,532

Missouri
 
—

 
—

 
1

 
18,105

 
—

 
—

 
1

 
18,105

New Mexico
 
—

 
—

 
—

 
—

 
5

 
33,089

 
5

 
33,089

Total
 
1

 
$
45,199

 
8

 
$
25,505

 
6

 
$
33,341

 
15

 
$
104,045


 
 
December 31, 2018
 
 
Operating Properties
 
Held For Sale
 
Other REO
 
Total
State
 
# of Projects
 
Aggregate Net Carrying Value
 
# of Projects
 
Aggregate Net Carrying Value
 
# of Projects
 
Aggregate Net Carrying Value
 
# of Projects
 
Aggregate Net Carrying Value
California
 
1

 
$
33,866

 
1

 
$
137

 
1
 
$
252

 
3
 
$
34,255

Texas
 
—

 
—

 
1

 
2,761

 
1

 
216

 
2
 
2,977

Arizona
 
—

 
—

 
4

 
2,988

 
—

 
—

 
4
 
2,988

Minnesota
 
—

 
—

 
2

 
1,532

 
—

 
—

 
2
 
1,532

New Mexico
 
—

 
—

 
—

 
—

 
5
 
33,259

 
5
 
33,259

Total
 
1

 
$
33,866

 
8
 
$
7,418

 
7
 
$
33,727

 
16
 
$
75,011


Following is a roll forward of REO activity for the years ended December 31, 2019 and 2018 (dollars in thousands):

 
Operating
Properties
 
# of
Projects
 
Held for
Sale
 
# of
Projects
 
Other Real Estate Owned
 
# of Projects
 
Total Net
Carrying Value
Balances at December 31, 2017
 
$
20,484

 
1

 
$
5,853

 
2

 
$
38,304

 
15

 
$
64,641

Additions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital costs additions
 
14,066

 
—

 
243

 
—

 
2,080

 
—

 
16,389

Transfer
 
—

 
—

 
6,657

 
8

 
(6,657
)
 
(8
)
 
—

Reductions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of properties sold
 
—

 
—

 
(4,754
)
 
(2
)
 
—

 
—

 
(4,754
)
Depreciation and amortization
 
(684
)
 
—

 
—

 
—

 
—

 
—

 
(684
)
General and administrative expenses
 
—

 
—

 
(581
)
 
—

 
—

 
—

 
(581
)
Balances at December 31, 2018
 
33,866

 
1

 
7,418

 
8

 
33,727

 
7

 
75,011

Additions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital costs additions
 
33,091

 
—

 
—

 
1

 
248

 
—

 
33,339

Transfer
 
(19,580
)
 
—

 
19,580

 

 

 

 
—

Reductions:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of properties sold
 
—

 
—

 
(18
)
 
(1
)
 
(634
)
 
(1
)
 
(652
)
Depreciation and amortization
 
(2,178
)
 
—

 
—

 
—

 
—

 
—

 
(2,178
)
Impairment of real estate owned
 
—

 
—

 
(1,475
)
 
—

 
—

 
—

 
(1,475
)
Balances at December 31, 2019
 
$
45,199

 
1

 
$
25,505

 
8

 
$
33,341

 
6

 
$
104,045